What best profitable business to start with 20k in Canada?
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- Updated On:15-Sep-2023
- Replies:1
Short Answer
In Canada, you can start multiple types of business with 20k in hand. It can be investment, food deliveries, bookstores, thrift shops, and what not.
Detailed Answer
Not every business requires capital. There are some instances in which you can easily kickstart your business with investments as low as 1k in Canada.
Having 20k in hand opens your doors to better business opportunities. You can do multiple things like putting money in real estate, opening a cafe or a cleaning business. Most of the time, people have no idea, and they waste the money on some hits and trials.
There are plenty of businesses that can be done with no money. And the same ones can be done even better with a little investment.
Business You Can Start With 20k in Canada
Here is a list of businesses that you can start if you have around 20k in your pocket.
- Develop an App
Software developers are so skilled that they can develop an app in less than 1k. As technology is growing, this profession is also experiencing steady growth. Moreover, developing an app requires some seed money, a domain name, and some marketing. Try to make an app and put it on the web. Hopefully, it will attract a few buyers.
- Real Estate Agent
Another possible business option is to become a real estate agent. All you need is a permit and you are good to go. The commissions are pretty decent and whatever input cost is required from your end is to take a course for the license. It is a good part-time option and most married couples in Canada prefer it.
- Open your Food Trucks
If you love cooking or selling food, the next best alternative is to open a food truck. This business is scalable. The more money you have, the bigger you can make it. But with 20k, a viable option would be a simple food truck. You can buy all the supplies and, go to the major public places, and events and sell food. And the overhead costs will be minimal.
- Investing in Real-Estate
Real estate investment is risky. But if you have 20k now and don’t need the money anytime soon, it is best that you invest it. The price of properties in Canada always booms, and who knows 20k now will fetch you 200k after 5 years.
These are just some of the possibilities. The list is endless. The more you explore, the more you will find business opportunities in front of you.
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Discussion (0)
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